Local gold rates decline as USD/INR adjustments reflect softer international prices, FXStreet data shows.
Gold prices in India fell on Wednesday, reaching INR 14,209.59 per gram, down from INR 14,260.31 the previous day. The decline extended to INR 165,737.50 per tola, compared with INR 166,329.50 on Tuesday.
FXStreet adjusts international gold prices to local currency and units, updating rates daily based on market conditions. The data serves as a reference, though local prices may vary slightly.
Gold remains a key safe-haven asset and hedge against inflation, with central banks increasing reserves by 1,136 tonnes worth $70 billion in 2022.